An aqueous acidic composition useful for conducting a formation acidizing method is disclosed. The composition, which is comprised of a blend of acetic acid, formic acid, a fatty alkyl quaternary ammonium salt, a fatty aralkyl quaternary ammonium salt and an alkanoic and/or alkenoic acid having at least four carbon atoms and at least two alcoholic hydroxyl groups per molecule, resists the formation of sludge, and insoluble ferric and calcium compounds.